Great Lakes Advisors LLC Acquires 72,383 Shares of Orthofix Medical Inc. (NASDAQ:OFIX)

Great Lakes Advisors LLC raised its holdings in shares of Orthofix Medical Inc. (NASDAQ:OFIX) by 40.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 249,165 shares of the medical device company’s stock after purchasing an additional 72,383 shares during the period. Great Lakes Advisors LLC’s holdings in Orthofix Medical were worth $4,500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legal & General Group Plc raised its holdings in shares of Orthofix Medical by 1.0% during the second quarter. Legal & General Group Plc now owns 48,336 shares of the medical device company’s stock valued at $1,138,000 after acquiring an additional 485 shares in the last quarter. MetLife Investment Management LLC raised its holdings in Orthofix Medical by 5.4% in the 4th quarter. MetLife Investment Management LLC now owns 11,204 shares of the medical device company’s stock worth $230,000 after purchasing an additional 570 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Orthofix Medical in the 1st quarter worth about $585,000. Invesco Ltd. boosted its stake in shares of Orthofix Medical by 0.5% during the 1st quarter. Invesco Ltd. now owns 127,356 shares of the medical device company’s stock valued at $4,164,000 after purchasing an additional 632 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Orthofix Medical by 2.4% during the second quarter. Los Angeles Capital Management LLC now owns 32,045 shares of the medical device company’s stock valued at $579,000 after buying an additional 760 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Orthofix Medical Price Performance

Shares of NASDAQ OFIX opened at $10.82 on Tuesday. The company has a 50 day simple moving average of $11.83 and a two-hundred day simple moving average of $16.64. Orthofix Medical Inc. has a fifty-two week low of $9.57 and a fifty-two week high of $23.19. The company has a market capitalization of $397.71 million, a price-to-earnings ratio of -2.77 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 2.58.

Analyst Ratings Changes

Several analysts have commented on the stock. StockNews.com lowered shares of Orthofix Medical from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Stifel Nicolaus cut Orthofix Medical from a “buy” rating to a “hold” rating and lowered their target price for the company from $30.00 to $16.00 in a research note on Tuesday, September 12th. Roth Mkm started coverage on Orthofix Medical in a research note on Friday, October 20th. They issued a “neutral” rating and a $12.00 price target on the stock. Finally, BTIG Research lowered Orthofix Medical from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 12th.

Insider Buying and Selling

In related news, Director James F. Hinrichs acquired 7,500 shares of the stock in a transaction on Thursday, September 14th. The stock was acquired at an average price of $13.47 per share, for a total transaction of $101,025.00. Following the completion of the purchase, the director now owns 86,153 shares of the company’s stock, valued at $1,160,480.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.70% of the stock is currently owned by company insiders.

Orthofix Medical Company Profile

Orthofix Medical Inc operates spine and orthopedics company in the United States, Italy, Germany, France, the United Kingdom, Brazil, and internationally. It operates through Global Spine and Global Orthopedics segments. The Global Spine segment comprises the bone growth therapies products, which manufactures and distributes bone growth stimulator devices for enhance of bone fusion including adjunctive and noninvasive treatment of cervical and lumbar spine as well as a therapeutic treatment for non-spine; the spinal implants products designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and the biological products, such as regenerative products and tissue forms which allow physicians to treat a variety of spinal and orthopedic conditions.